Signature Bank (SBNY)

[IronMan123]

Commons hit a new 52 week high.

[UpTickMeA$AP]

Another impressive day.

With MFN Partners taking a 9.5% position, and Diameter Capital publicly stating investment and and value in Signature, it's pretty clear this thing is going to launch, consolidate, launch, consolidate a few times over.

This is going to be something for the books to watch.

To bad retail can't buy this anymore. The big boys aren't going to share this...

It's funny, you can buy bankrupt stocks, but not this... Crazy.

[koolmc]

nice action today :) not even looking at the daily swing.

[IronMan123]

Commons and Perfs both shot up after market close.

[IronMan123]

Yup, should be going up the rest of the week now.

[UpTickMeA$AP]

https://finance.yahoo.com/news/1-diameter-capitals-goodwin-sees-200517955.html

[elmasry]

It hit 3.24 today

[IronMan123]

May be some news coming out.

[IronMan123]

Guess those SPECIAL people finally got tired of waiting for people to sell and only picking up a few thousand daily and decided to put the money down.

[elmasry]

You were right
Explode now

[UpTickMeA$AP]

There she goes.

[UpTickMeA$AP]

This thing is going to explode upwards again one of these days.

[koolmc]

hit 2.40s on low volume still trekking along

[Dingbatt]

https://www.sec.gov/news/press-release/2024-32
Rule 605 march 6

[UpTickMeA$AP]

Asset amounts, are different from asset values, and the performing loans are unknown. Not enough information to give a number, but it looks like it could be pretty high.

[elmasry]

I think the number will be a lot higher than 40

[Dingbatt]

Dividing your numbers by the total shares
adds up to about $40 a share in my pea brain

[Dingbatt]

Uptick
this stunned me in congress about the FDIC

[UpTickMeA$AP]

Who is MFN Partners?

Here's an older article, that sheds some light. Looks like extremely intelligent, and connected high up.

https://www.pionline.com/article/20190507/ONLINE/190509899/harvard-piles-into-hedge-funds-as-new-chief-overhauls-endowment

[UpTickMeA$AP]

Plus, you have smart money taking positions. Here is a recent find from stocktwits board.

https://www.sec.gov/Archives/edgar/data/1732960/000119312524068657/d800139dsc13g.htm

[UpTickMeA$AP]

Well, they still currently own:

80% in the $17B CRE portfolio.
(20% to Blackstone)

95% in the $5.8B Multifamily portfolio.
(5% to Community preservation Corp.)

80% in the $9B Multifamily portfolio.
(20% to Santander)

Plus, a few billion in cash from sales, and performing loan portfolios. And if course the performing loan portfolios make big money monthly... How much? Nobody but the FDIC currently knows.

[Dingbatt]

This is the only stock on the so called expert market that has gone up

[elmasry]

It is looking good now
Let us go

[IronMan123]

Someone just took out a $2 stop loss on th "L"s.

[UpTickMeA$AP]

Feels like this is getting ready to explode upwards again. Nice chart.

[elmasry]

Did anyone see the news that nycb released today

[Dingbatt]

additionally NYCB
that bought SBNY appears to be in the same trouble as SBNY

https://www.cnbc.com/2024/03/01/wall-street-worries-about-nycbs-loan-losses-and-deposit-levels.html

[Dingbatt]

Uptick found this
https://www.reuters.com/business/finance/2-regional-bank-selloff-continues-new-york-community-bancorp-slumps-2024-02-01/

[Dingbatt]

Uptick
You are definitely on the ball thanks for the details story is very interesting

[UpTickMeA$AP]

Flagstar, the 19th-largest mortgage lender in the country, acquired $38 billion in Signature's assets, including approximately $25 billion in cash and $13 billion in loans, which were exclusively commercial and industrial loans.

https://www.housingwire.com/articles/flagstar-acquires-38b-in-assets-assumes-34b-deposits-from-signature/#:~:text=Flagstar%2C%20the%2019th%2Dlargest%20mortgage,exclusively%20commercial%20and%20industrial%20loans.

NYCB owns Flagstar.

[Dingbatt]

Didn't New York Cmnty Banco NYCB
buy a pile of SBNY

[koolmc]

yep hit 2.50

[elmasry]

I agree it looks really good now
Hope for the best

[UpTickMeA$AP]

That chart is looking juicy! Looks ready to explode at any moment. Will it? Idk...

Wish I could buy it right now..

Glta

[Dingbatt]

Koolmc
I think this is the only stock on the OTC that is on the expert market that has gone up everything else on the OTC is still in the tank fomenting.

[koolmc]

yep been holding here for awhile now, there were block sellers that pushed this down now going back up nicely.

[UpTickMeA$AP]

This could get EXTREMELY interesting. The bounce from .01 was epic.. What's it going to do from $1.50?

Hundreds incoming?

Fun to watch! Wish I could buy!!

[koolmc]

sweet 1.99 :) where is everyone

[koolmc]

1.50's block seller is gone for now

[koolmc]

blocker sellers still there.

[koolmc]

look at the two main blocks today most likely institution

[elmasry]

The gambler
You got to know when to hold them.,,.

[IronMan123]

Someone trying to scare people into selling their Perf shares this morning. 250 shares traded and down $3.05. Big boys playing with the weak hands.

[elmasry]

True waiting game now

[IronMan123]

Looks like the volume is drying up only 162K in commons and 7K in perfs today.
People are waiting to see what is going to happen.

[IronMan123]

Looks like the weak hands have pretty much sold out and gone. Next to nothing traded today. People are in the wait and see mode.

[elmasry]

Sybnl at 6

[IronMan123]

The perfs are up $2 today.

[stju1979]

FDIC reports is out soon. I can’t wait to the numbers.

[Dingbatt]

Sir
This stock has gone from $366 to 1/5 of a penny and back up tp $3 I am only here because most of the major players never dumped their shares as a result it was the short sales that drove it down to this level Blackstone could only be holding their own if they placed a strand on the stock along time ago.